Ann: Shareholder Update - Bergen Converting Notes, page-10

Totally agree. They have made money all the way down from 0.008 and still have the option of exiting the last lot for zero loss unlike shareholders who have been made to wear losses because of the directors absurd decision to engage them for funds. If you are going to do a convertible note you do not do to a discount to wvap you need to set a floor on the share price. example ORN did one a year back with a 2 year maturity when share price was 2.6 cents . Floor was 2.3 cents and pay 10% per ann. raised something like 13 million and share price has only gone up since then to over 4 cents .
FYI you can buy shares at the mid pt @1.5 cents so presume its Bergen taking a 50%profit on last lot.
Good luck and DYOR